Predators sign letter of intent to sell to local investor group

Craig Leipold has signed a letter of intent to sell the Predators to a local group of investors trying to keep the team from leaving town.

The eight partners are all locals except for William (Boots) Del Biaggio, a Californian who had earlier tried to purchase the team on his own.

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The total value of the bid was not immediately announced.

It was expected to be about US$180 million – much less than the $220 million offered by Canadian billioinaire Jim Balsillie in May.